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v1.0
v1.0
  • Introduction to NFTX
  • FAQ
  • Products
  • NFTX App
  • Gallery
  • Tutorials
    • Minting
    • Redeeming
    • Vault Creation
  • Smart Contracts
    • Overview
    • Contract Addresses
    • Audit & Risks
  • Ecosystem
    • Litepaper
    • Token Distribution
    • 🎨Brand Kit
  • Archive
    • Get Started
      • How to create an NFT Index Fund
      • How to get my index fund listed on the NFTX Gallery?
      • How to mint an NFT Index token with your NFT?
      • How to redeem an NFT from an index fund?
    • Community Raise
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  • Why redeem an NFT?
  • Redeeming Step-by-Step
  • vToken Balance
  • Redeeming
  • FAQ
  • Can I choose what NFTs I redeem?
  • Can I redeem from a vault without a vToken?

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  1. Tutorials

Redeeming

Last updated 4 years ago

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NFTX v1.x allows you to easily redeem your ERC20 Vault Tokens (vTokens) for a random NFT within the vault.

Why redeem an NFT?

Redeeming Step-by-Step

vToken Balance

Redeeming

To redeem an NFT you must enter the quantity you would like to redeem (in whole numbers) and approve the NFTX contract. Once the approval transaction has been confirmed, you will then be able to redeem the desired number of tokens.

Once the redeem transaction is confirmed, a receipt will be shown that includes an Etherscan link for viewing NFT ID that was redeemed.

FAQ

Can I choose what NFTs I redeem?

The current version of the NFTX protocol does not allow for specific redemptions. This is a feature that will be made available in V2.

Can I redeem from a vault without a vToken?

Redemptions allow users to take ownership of an underlying NFT from within a vault. This means that a user can go to an AMM like Sushiswap, purchase a vToken like PUNK-BASIC and use that token to claim a random CryptoPunk from the .

When you visit and connect your wallet, your vToken and NFTX balances will be displayed on the right hand side. Each vToken represents a claim on a random NFT from within its vault.

Don't have any vTokens? to browse the available vaults and exchange trading pairs.

Users must have a vToken in their wallet balance to redeem from a vault. To browse the available vaults and vault NFTs, please visit the .

Punk-Basic vault
https://app.nftx.org/redeem
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